Main navigation

Greed Takes Over Crypto Market as Bitcoin (BTC) Prints Big Green Candle

Tue, 06/27/2023 - 17:00
article image
Gamza Khanzadaev
BTC shoots up with massive green candle as greed expands into crypto market
Greed Takes Over Crypto Market as Bitcoin (BTC) Prints Big Green Candle
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

In an interesting turn of events, the Crypto Fear & Greed Index, widely regarded as a crucial market indicator, has once again flashed the signal of "greed." The index, which previously hovered in neutral territory, now stands at 59, marking a significant shift in market sentiment. Not counting the previous week, the last time this counter signaled was in early May, at the height of the Pepe coin (PEPE) hype.

Tuesday Is Most Profitable Day for Bitcoin (BTC), Data Shows

This notable change comes on the heels of Bitcoin's (BTC) impressive surge of over 1.5% within a single day, catapulting the price of the leading cryptocurrency to $30,800.

BTC to USD by CoinMarketCap

For several days, Bitcoin has flirted with breaching this critical resistance level, only to falter and retreat. However, if it manages to establish a foothold above this threshold, it is believed that the BTC price could be poised for even greater heights, with some anticipating prices of at least $32,400 per coin.

The timing of the Crypto Fear & Greed Index's inclination toward greed raises intriguing questions about its impact on market dynamics. Is this indicator a reliable harbinger of future developments, or merely a retrospective measure?

Top-Tier Analyst: Bitcoin to Reach $60,000 Again

As Bitcoin keeps printing remarkable green candles on the chart, the dominance of greed on the crypto market becomes apparent. All eyes are now fixed on Bitcoin's ability to maintain its momentum and transcend the resistance barriers that have thus far impeded its ascent.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.